How are Bravura (ASX:BVS) shares reacting to AGM 2022 update?

2 min read | November 22, 2022 12:41 PM AEDT | By Sonal Goyal

How are Bravura (ASX:BVS) shares reacting to AGM 2022 update? — Image source: © Airdone | Megapixl.com

Key highlights of the AGM 2022

In the financial year 2022 (FY22), Bravura returned to revenue The company reported revenue growth of 10%.
EBITDA during the year fell by 8% to AU$45.3 million.
The net profit after tax was AU$29.9 million, and the adjusted NPAT was AU$25.7 million.
The revenue in the wealth management segment grew by 6%, and the fund administration segment revenue increased by 17%.
The company ended the year with a cash balance of AU$48.7 million.
In June 2022, Libby Roy was appointed as the new CEO and managing director of Bravura.
In FY22, Brent Henley was appointed as chief financial officer. According to ASX filing, shareholders did not support the decision to elect CFO as a director. Therefore, Brent Henley will be resigning from the board.
Recovery of EMEA (Europe, Middle East, and Africa) business is not in line with the company’s expectation post the Covid-19 driven pandemic.

Neil John Broekhuizen, chairman, of Bravura, stated that

Share performance of Bravura

At 11:16 AM AEDT, the shares were trading at AU$0.80 apiece with a market capitalization of AU$204.89 million. With this, the share price fell by 31.03% in one month. In one year, the share price has dropped by 68%, and on a year-to-date basis, it has declined by 67.21%. The share price has tumbled by 52.94% in the past five years.

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